Allocate enjoys Aussie boost

Workforce optimisation software developer Allocate Software saw turnover shoot up at the interim stage, boosted by the capture of a large Australian healthcare contract.Revenue rose by 77% in the six months to 30 November to £15.9m, from £9.0m in the corresponding period of last year. Licensing revenue increased by 120% to £7.7m from £3.5m the year before, while services and support revenue jumped 45% to £8.0m from £5.5m.Recurring revenue, at £5.5m, now accounts for 35% of total revenue."The results this half year reflect the benefit of a high proportion of the income due under the previously announced large Australian healthcare contract. Whilst this contract will continue to contribute to our revenue growth in the future, I do not expect that the amounts of revenue and profit realized in this period will be repeated at these levels in future periods," said Ian Bowles, chief executive officer of Allocate.Profit before tax advanced to £1.18m from £0.67m the year before."Taking into account both the positive effect of our overseas expansion and the negative impact of the government's White Paper outlining the re-structure of the NHS, we remain on track for our full year revenue and profit targets," Bowles said, reiterating guidance given at the time of its recent contracts update. Atlantic Lithium